Nova Stream


Opportunities abound as Saudi Arabia plans $13bn private healthcare expansion

Saudi Arabia’s health ministry is making $13bn (SR48bn) plans for 100 healthcare projects that will involve the private sector. The public-private partnership proposals include constructing two new medical cities, a project to provide 900 beds for medical rehabilitation, and long-term care services, and it looks like foreign investors are actively being courted.

Saudi healthcare insurance boom

According to the Saudi Central Bank, gross healthcare insurance premiums in Saudi Arabia rose 32% to SR25.1 billion (€6.78 bn) between 2017 and 2021. Healthcare now totals as much as 59.7% of total insurance in the rich oil state.

Gulf PMI gets lift from Qatar’s World Cup

Ahead of the World Cup in November the Qatari authorities have issued a proclamation demanding that some 1.5 million Gulf and other international football fans must have healthcare insurance of at least 50 Qatari riyals (€12). This is a boon to Gulf and other international private medical insurers (PMI) of at least QR75 million (€18m).

NMC CEO standing down

Michael B. Davis, the CEO of the UAE's largest private sector healthcare provider, NMC Healthcare, is standing down. His last day with the group will be December 20, and he leaves having steered the group through the most trying years in its history. Once seemingly facing financial ruin, NMC came out of administration at the end of last year.

KKR exits Max Healthcare

US private equity player KKR has solid its entire stake in India-based hospital chain Max Healthcare, marking its exit from the group, for around Rs9,200 crore. The deal marks its largest exit from an Indian firm, and is the largest single block deal done by any PE firm in India.

HBI 2022: Balance of power in MENA is shifting

There is a risk, when looking at healthcare markets in MENA, of lumping all the countries together as one - but each market has very specific requirements, and very specific characteristics. A panel at HBI 2022 chaired by Hamid Yunis, partner at global law firm McDermott Will & Emery, investigated challenges and opportunities in the region - and how rapidly the markets are changing and why overseas players now need to work harder to impress.

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